Dubbo, New South Wales

DIVORCE SALE - VENDOR MUST SELL LEASEHOLD - TICKS ALL BOXES - High YIELD - LOW RENT

SOLD

Business Description

Due to their divorce settlement the vendors must sell. Extremely motivated Vendor.
The motel is located at Dubbo, a vibrant inland city famous for the outstanding Western plains Zoo.
The city is the commercial, industrial and administrative hub of the Central West and is also one of Australia's fastest-growing inland cities.
Located on the beautiful Macquarie River, 412 km north-west of Sydney. It is situated at the intersection of three highways, the Mitchell, Golden and Newell Highways. The city has 70 flights a week to Sydney plus direct flights to Brisbane, Melbourne and Newcastle.. The XPT travels daily to Sydney.

* 23 units all with kitchens and all bathrooms fully renovated
* Projected profit 2019/20 $295 000 after rent
* Low rent $153762 - this is only 34% of total projected profit !!!
* 25 years (from 22/3/19) remaining on lease
* 9kw solar system - great saver of power costs.
* directly opposite lovely park which runs down to the Macquarie River
* stong occupancy 76% (1st half 2019/20) and tariffs $115 to $350
* 25 sealed parking spaces - some (8) undercover.
* T/O 2018/19 $648033 1st half 2019/20 $363322

Business Summary

Business Snapshot

Price: SOLD Net Profit: $295,000

Motel Information

Total Rooms: 23Stars: 3.5Restaurant: NoSale Type: LeaseholdLease Term: 24 years
Marketing Agent
Jim McDonald
Jim McDonald

Jim McDonald Brokers

Jim McDonald Brokers

Key Investment Insights

1. The business is a motel located in Dubbo, a vibrant inland city known for its famous Western Plains Zoo.
2. The city is a commercial, industrial, and administrative hub of the Central West and is one of Australia's fastest-growing inland cities.
3. The vendors are selling due to their divorce settlement and are extremely motivated to sell.
4. The motel has 23 units, all with kitchens, and all bathrooms have been fully renovated.
5. The projected profit for 2019/20 is $295,000 after rent.
6. The rent is low at only 34% of the total projected profit, at $153,762.
7. The lease has 25 years remaining (from 22/3/19).
8. The motel has a 9kw solar system, which helps to save on power costs.
9. It is located directly opposite a lovely park that runs down to the Macquarie River.
10. The motel has a strong occupancy rate of 76% in the first half of 2019/20, with tariffs ranging from $115 to $350.
11. There are 25 sealed parking spaces, including 8 undercover.
12. The total turnover for 2018/19 was $648,033, and for the first half of 2019/20, it was $363,322.

ROI Estimate: 32.96%

Listing location

This Business is sold

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